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Asked Dec 2, 2019
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Chapter 7, Section 7.3, Question 030
An abandoned building's value is 250(0.96)' thousand dollars. When will Etienne be able to buy the building with his savings account, which has $190,000 at year t= 0 and is growing
by 12% per year?
Round your answer to three decimal places
Etienne can buy the building in
years
the absolute tolerance is +/-0.01
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Chapter 7, Section 7.3, Question 030 An abandoned building's value is 250(0.96)' thousand dollars. When will Etienne be able to buy the building with his savings account, which has $190,000 at year t= 0 and is growing by 12% per year? Round your answer to three decimal places Etienne can buy the building in years the absolute tolerance is +/-0.01 Open Show Work Click if you would like to Show Work for this question:

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Expert Answer

Step 1

Given:

Abandoned building’s value is

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250(0.96) thousand dollars

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Step 2

First covert the thousand dollars value to dollars:

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250,000(0.96) dollars

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Step 3

The time after which Etienne will be able ...

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12 250,000(0.96 190, 000 1 100 250,000(0.96) 190, 000 (1.12) (0.96) 190,000 (1.12) 250,000 0.96 19 25 1.12

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